Hi everbody,
with a fortnight to go before the AGM, 2018 (thus far) has been a non-event year for GTE holders.
Below is a different metric to evaluate GTE, ASX announcement numbers versus share price effect.
Of course its subjective, but I feel there is some correlation in these numbers below. The year 2017 was a busy one for GTE, and it did double the share price by year’s end, but with nothing to show in 2018, its gone down again.
METRIC - IF number of ASX announcements = the level of company activity.
| 2015 | 2016 | 2017 | 2018 |
| Number of ASX announcements per Quarter. |
QUARTER 1 Jan 1- Mar 31 | 12 | 16 | 28 | 11 |
Share Price at beginning of Quarter | Jan 5 2015: 2.6c | Jan 4 2016: 2.4c | Jan 2: 1.3c | Jan 1 2018: 2.6c |
QUARTER 2 Apr 1- June 30 | 8 ann | 7 | 18 | 10 |
Share Price at beginning of Quarter | Apr 6 2015: 1.5c | Apr 11 2016: 2.0c | Apr 10 2017: 1.5c | Apr 9 2018: 1.4c |
QUARTER 3 Jul 1- Sep 30 | 8 | 11 | 19 | 9 |
Share Price at beginning of Quarter | July 6 2015: 1.2c | July 11 2016: 1.9c | July 3 2017: 1.4c | July 2 2018: 1.0c |
QUARTER 4 Oct 1- Dec 31 | 13 | 21 | 34 | 3 |
Share Price at beginning of Quarter | Oct 5 2015: 1.0c | Oct 10 2016: 1.7c | Oct 2 2017: 1.4c | Oct 1 2018: 0.6c |
TOTAL ASX ann. | 41 ann in 2015 | 55 ann in 2016 | 99 ann in 2017 | 33 (as at Nov 1) |
STOCK PRICE low and high for this year. | LOW: July 27 0.7c HIGH: Dec27 2.6c | LOW: Feb 22 0.7c HIGH: Jan 25 2.2c | LOW: June 19 1.2c HIGH: Dec25 2.6c | LOW: Oct 1: 0.6c HIGH: Jan 1: 2.6c |
Analysis: In GTE’s case - given that, the management has been essentially the same over the past four years. The level of company activity, hasn’t resulted in any overall increase in share price, or added value to the company.
New lease areas have been drilled, but nothing commercial from the accumulation of new leases in 2016 to early/mid 2017 has AS YET been discovered in 2018.
No doubt the reasons are numerous, from bad luck in where the drilling took place, to weather delays in late 2017 early 2018, to drill equipment breakdowns in early 2018 forcing even more delays.
Also TO BE NOTED - GTE hasn’t test drilled ALL of its newly accumulated leases either.
Its small financial stash, limits it from quickly evaluating what it does have.
Yerrida North has been subleased to Sandfire, and that will go at SFRs whim speed.
Other newly acquired leases, such as Fairbairn isn’t even on GTE’s current radar.
GTE should consider getting a partner for this lease, as it did with SFR.
This coming AGM should address these issues, amongst others. Having a large stable of leases but not being financially able to exploit them in a sufficiently proximate time frame, unless GTE gets lucky, will leave its stock price languishing. And for how long ?
Other stockholders comments, thanks.
Bluequartz
....Cheers
